Does anyone have advice on next steps and/or examples of terms, operating agreements, types of LLCs ect. ?

Hello my name is Fernando just stepping into the renting and landlord area.

Even better, I might be able to snag it well under market value since it's an estate sale that's been sitting on the market for nearly 200 days.Here’s the challenge: while I could afford to purchase the property under market value, I’d be stretching my budget thin to cover the mortgage during the period I’d be remodeling the basement to make it rentable.

The challenge for a PMC is having the time to answer all your HUNDREDS of questions and handholding you as you learn, while still making money.

This type of property would be very challenging for an EXPERIENCED investor to take down. 

My chief complaint is the lack of communication and an actual project management plan... thats good news I know some lenders get pretty concerned when construction is so slow.. but sounds like a great deal and I know RTR will be there every step for you guys.. did not realize they were the conduit for this transaction.

Whether these factors outweigh the challenges is a personal decision. 

Steps to follow?

Also seems like a lot of MF sells occupied with tenants in place so you just have to comfortable with that and contracting up from and seeing inside after contracting.    1st step is to find a great lender and get pre-approved for a loan so you know what your budget is. 

The challenge with the BP forums is that they perform poorly on mobile in their current form.